Essex Investment Management Co. LLC Has $136,000 Stock Position in Ascent Industries Co. (NASDAQ:ACNT)

Essex Investment Management Co. LLC reduced its position in shares of Ascent Industries Co. (NASDAQ:ACNT) by 10.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,182 shares of the company’s stock after selling 1,406 shares during the quarter. Essex Investment Management Co. LLC owned about 0.12% of Ascent Industries worth $136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. De Lisle Partners LLP raised its stake in shares of Ascent Industries by 5.5% during the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock worth $1,914,000 after buying an additional 10,349 shares during the last quarter. AMH Equity Ltd acquired a new stake in Ascent Industries during the 4th quarter worth $671,000. Finally, Empowered Funds LLC raised its position in shares of Ascent Industries by 4.8% during the 4th quarter. Empowered Funds LLC now owns 44,693 shares of the company’s stock valued at $500,000 after acquiring an additional 2,049 shares during the last quarter. 26.05% of the stock is currently owned by institutional investors and hedge funds.

Ascent Industries Stock Down 1.9 %

NASDAQ:ACNT opened at $11.61 on Monday. The company has a quick ratio of 1.81, a current ratio of 3.77 and a debt-to-equity ratio of 0.01. Ascent Industries Co. has a 12-month low of $8.16 and a 12-month high of $12.38. The stock’s fifty day simple moving average is $11.22 and its 200-day simple moving average is $10.50. The firm has a market capitalization of $117.18 million, a P/E ratio of -68.29 and a beta of 0.81.

Ascent Industries (NASDAQ:ACNT) last released its earnings results on Tuesday, March 4th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $40.67 million for the quarter. Ascent Industries had a negative return on equity of 12.48% and a negative net margin of 0.80%.

Insider Activity at Ascent Industries

In other news, VP Ravi Ramesh Srinivas bought 4,000 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $11.81 per share, with a total value of $47,240.00. Following the completion of the purchase, the vice president now owns 8,000 shares of the company’s stock, valued at approximately $94,480. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.85% of the stock is currently owned by corporate insiders.

Ascent Industries Profile

Ascent Industries Co an industrials company, produces and distributes stainless steel pipe and tube and specialty chemicals in the United States and internationally. The company operates through two segments, Tubular Products and Specialty Chemicals. It manufactures welded pipes and tubes, primarily from stainless steel, duplex, and nickel alloys; and ornamental stainless steel tubes for automotive, commercial transportation, marine, food services, construction, furniture, healthcare, and other industries.